Railway Grease market will register a 0.5% CAGR in terms of revenue
Verfasser: riyasharma24mr on Tuesday, 4 June 2019Railway Grease is a semisolid lubricant used in in the rail transport sector, which can reduce the friction at the rail-wheel interface, extend rail and wheel life, reduce fuel consumption and reduce wheel squeeze. Grease generally consists of a soap emulsified with mineral or vegetable oil. The characteristic feature of greases is that they possess a high initial viscosity, which upon the application of shear, drops to give the effect of an oil-lubricated bearing of approximately the same viscosity as the base oil used in the grease.
We tend to believe this industry is a rising industry, and the consumption increasing degree will show a smooth growth curve. And the price presents fluctuation according to the economy development status and international competition. Also, there is fluctuation in gross margin.
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According to this study, over the next five years the Railway Grease market will register a 0.5% CAGR in terms of revenue, the global market size will reach US$ 340 million by 2024, from US$ 330 million in 2019.